Global equity markets had another strong month in February, producing a gain of over 2.5% to the Fund (before fees). Overall performance was mixed -- returns were 7 basis points (0.07%) below the benchmark return for the month but 3.6% above the benchmark for the 12-month period ending February 28, 2014.
The net return after the first six months of the plan year stands at 11.751% (September 1, 2013 through February 31, 2014).
Note that the current fund rate, which is calculated monthly based on reports from both our managers and the Plan's trustee, is now used to determine final values for members who decide to initiate pension benefit payments as well as for those who elect to transfer their account balances following termination or retirement. Active and deferred member balances are updated once each year based on the fund rate of return following our year-end of August 31.
Questions? Contact the Pensions & Benefits Unit of the Department of Human Resources.